There aren’t many great opportunities out there but Pfizer seems to be quite reasonable with current valuation. Therefore I decided to buy additional 30 shares for 33,79 USD per share. Valuation is not exceptionally cheap but considering the overall market it’s quite OK. Yield is on high side with moderate payout ratio so it’s quite natural addition especially since I already had a starter position on it and had some USD to spend without converting too many euros.
Next month I might focus on taking advantage of the small transactions campaign my broker still has. I might add to my position in Sampo and Fortum. Latter surprised positively with the latest report and I still consider it to be a very relevant position in the long term. The political risk is a big factor there but it might be a manageable risk after all.
Gjensidige Forsikring went ex-div today so I added to my underweighted position on it with a purchase of 80 shares for 126,90 NOK per share. Nothing has really changed with the company. It’s a company I would describe as solid. Nothing really spectacular there but it’s good enough valuation for good enough company.
Yet another manual DRIP substitute with a purchase of 50 additional shares of Telia Company for 3,70 EUR per share. Telia is still fairly valued but it’s getting to be way too overweight position in my portfolio. In that sense dividend reinvestment makes sense.
As I mentioned earlier, my broker has a campaign for small purchases with 0,99 EUR transaction fees. This made it possible to execute manual DRIP operation on Fortum Corporation with a purchase of additional 15 shares for 13,10 EUR per share. It’s a shame that we can’t properly DRIP here but this will have to do for now. Telia Company and Sampo might get similar treatment in coming months.
Q1/2017 was pretty much what I expected it to be. Markets moved mainly sideways and dividend income was slightly better than expected, some of that is explained by delayed registration of Q4/2016 dividends.
Dividends received during first quarter year over year in EUR (before taxes).
It’s getting increasingly difficult to find decent valuations especially to initiate new positions. I’ve been still considering hydrogen energy as a potential new position. Originally I was looking into automotive sector with hydrogen capabilities but lately I’ve been considering supply chain position (namely NEL in Oslo exchange). It’s a sector I’m still struggling with but might initiate a position if the price is right.